Biocon has signed an unique licensing and provide deal with South Korean pharma agency Handok for commercialisation of persistent weight administration drug Liraglutide in the East Asian nation. The announcement noticed the Bengaluru-based biopharmaceutical agency’s shares on Friday contact a 52-week intraday excessive of ₹330.95 on the BSE.
Under the settlement, Biocon will undertake improvement, manufacturing and provide of the drug product, whereas Handok shall be accountable for acquiring regulatory approval and commercialisation in the South Korean market. The addressable market alternative of Liraglutide, which is an injection in pre-filled pen, is about $47 million in Korea, Biocon mentioned citing IQVIA MAT This autumn 2023 numbers.
Biocon shares rose 1.25% to shut at ₹319.30 apiece on the BSE on Friday.
“The partnership with Handok will enable patients in South Korea dealing with weight management to gain access to our GLP-1 peptide drug product, Synthetic Liraglutide… we look forward to leveraging Handok’s strong capabilities,” Biocon CEO and MD Siddharth Mittal mentioned in a launch.
Handok is amongst Korea’s main corporations in the administration of diabetes, providing a bunch of options from prognosis to remedy and care. “Liraglutide is an important drug product for treating diabetes and obesity. Our collaboration with Biocon will enable Handok to expand its portfolio into the obesity sector,” Handok Chairman YoungJin Kim mentioned.
